After the Exxon Valdez oil spill in 1989, Congress passed the Oil Pollution Act of 1990, warmly referred to as “OPA90″. OPA90 provided for an emergency spill fund so that response for a future spill could begin right away; established the US Coast Guard as the lead agency responsible for spill response; and for the first time required minimum insurance coverage and detailed spill contingency plans for operators of marine vessels, including operators of offshore oil and gas leases.
Another thing that OPA90 did, that seems to have escaped the notice of a legion of plaintiffs’ attorneys and potential claimants: it caps the commercial liability of those operators:
I’m no lawyer, but with OPA90, that sounds a tad high to me.
Another thing that OPA90 did, that seems to have escaped the notice of a legion of plaintiffs’ attorneys and potential claimants: it caps the commercial liability of those operators:
§1004 The liability for tank vessels larger than 3,000 gross tons is increased to $1,200 per gross ton or $10 million, whichever is greater. Responsible parties at onshore facilities and deepwater ports are liable for up to $350 millon per spill; holders of leases or permits for offshore facilities … are liable for up to $75 million per spill, plus removal costs.There have been reports in the news media speculating as to BP’s liability, bidding up the amount each time: $1 billion, $3 billion, $8 billion, $14 billion…
I’m no lawyer, but with OPA90, that sounds a tad high to me.
